Adjusting GST amount in MoneyWorks Purchase Invoice

When recording a Purchase Invoice (Bill) from supplier you got a 1 cent different.

Why?

This is due to different in method of calculating GST, some accounting software is summing the GST amount for each line item, but some may be using total amount payable (excluding GST) for all line items multiply by the GST rate (such as 7%).

Besides, some systems may be either rounded up or rounded down to the nearest 1 cent, and some may simply cut off at 2 decimal places.

Here is an article from IRAS explaining the method used in calculating GST on transactions: